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Mugur Isarescu: Romania can no longer rely on workforce as sole competitive edge

Mugur Isarescu considers that Romania's new competitive advantages are given by the industry with either internal or external management - due to investments in technology - IT human resources, but by the wine industry as well, and that the cheaper workforce is no longer a competitive edge capable of attracting foreign investment.

'Romania has three main competitive advantages to offer. They are represented by industry, where financial capital was invested, technology, IT workforce, but also the wine industry. One cannot rely solely on workforce, the more so as labor movement is one of the essential elements of the European way of life,' said Mugur Isarescu.

The BNR governor pointed out that the time is over when Romania had an economic model based on relations and easy access to resources, and that it is time that all efforts are directed towards increasing competitiveness in conjunction with rising savings and investment in economic growth, not consumption.

'In time, these savings will no longer go to consumption, but to investment and then, along with economic growth, growth in consumption on a healthy basis will come too,' said the central bank governor.

Sursa: http://www.actmedia.eu

Tags: competitive workforce longer mugur isarescu bnr

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